Organization Root Tag

Profits slumped last year and many investors are now voicing their displeasure with the compensation awarded to senior leaders. A nonbinding “say on pay” vote taken Tuesday passed narrowly, but Chairman Charles Noski indicated that the board will take the results into account when designing future pay packages.

Citigroup said a full review conducted after the lender mistakenly sent $900 million to a group of investment firms concluded the bank didn’t need to claw back any pay from executives.

The Senate Banking Committee chairman told an audience of community bankers that he supports legislation to close "chartering loopholes" for industrial loan companies and financial technology firms. He also pitched a plan to give all consumers a free digital wallet backed by the Federal Reserve.

Large banks like Chase, PNC and U.S. Bank were seen as having more resources to devote to customer relief and upgrade digital channels that consumers came to rely on, according to a J.D. Power survey.

The lender’s top decision-making body, led by CEO Jamie Dimon, said in a memo to staff Tuesday that it “would fully expect that by early July, all U.S.-based employees will be in the office on a consistent rotational schedule.”

Like many banks, TD Bank Group had to move swiftly to spin up new self-service tools tied to chat channels, e-signatures and PPP lending. Innovation chief Michael Rhodes will continue the faster financial approval and development cycles that COVID necessitated.

The tech vendor allows merchants using the Clover point-of-sale platform to accept PayPal and Venmo payments, a move that serves the company's continuing focus on full omnichannel experiences for its merchants.

Merchant service providers need dynamic cybersecurity assessment tools to identify the key areas of risk in their portfolio in near real-time, says ZeroRisk's Neira Jones.

Barclays US, which offers a range of cobranded credit cards targeting middle-income consumers, is adding a buy now/pay later option for its merchant partners.

Without rollbacks of existing anti-money-laundering reporting requirements, a measure designed to make Bank Secrecy Act enforcement more risk-focused would do little to ease banks' regulatory burden.

The move is in response to institutional investors' increasing demand for cryptocurrency services. The company also has invested in a firm that tokenizes assets, it and says it's been selected to administer a bitcoin exchange-traded fund.

Eighteen months after launching Second Chance in Chicago, JPMorgan is bringing the recruitment effort to Columbus, Ohio.

The technology is simulating the work of teams of analysts and traders to pick stocks and rebalance asset allocations in the bank's newest investment index.

JPMorgan Chase is preparing to offer a bitcoin fund to wealthy clients, the latest sign that Wall Street is warming to the largest cryptocurrency after it soared in recent months.

The Federal Reserve and other central banks deciding whether to compete with private cryptocurrencies should heed the financial stability risks, such as expanding the economic power of governments and altering longstanding payments models.

Fraud detection and prevention technology must align with clear return policies and strong customer service ensuring that confused but loyal and well-intentioned customers can continue to purchase from merchants, says Ravelin's Mairtin O'Riada.

CEO John Turner said green projects present a strong business opportunity for the Birmingham, Ala., company.

The custody service provider, which will maintain a New York license in addition to its national charter, is one of several cryptocurrency companies to apply to the Office of the Comptroller of the Currency.

Three months into President Biden’s term, the White House has yet to select a nominee to run the Office of the Comptroller of the Currency or pick an acting chief. That inaction will make it more difficult for Democrats to unwind Trump-era policies, critics say.

The Reserve Bank of India restricted American Express Banking and Diners Club from adding new local customers, citing non-compliance with data-storage rules.